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<p class="is-style-lead">Fidelity International has listed its physical Bitcoin exchange-traded product on the London Stock Exchange, providing professional investors with access to the world’s largest digital asset by market cap.</p>
<p>Trading under the ticker FBTC, the ETP is fully backed by Bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>), and tracks its price its price. The launch on the LSE follows approval by the United Kingdom’s Financial Conduct Authority in late May. This approval allows issuers to list crypto-backed exchange-traded notes for professional investors. Other firms like 21Shares, WisdomTree, and Global X have also announced similar products in the country.</p>
<h2 class="wp-block-heading" id="positive-development">‘Positive development’</h2>
<p>You might also like: <a href="https://crypto.news/etc-group-coinshares-wisdomtree-set-to-list-crypto-etps-on-london-stock-exchange/" rel="noopener noreferrer nofollow"> ETC Group, CoinShares, WisdomTree set to list crypto ETPs on London Stock Exchange </a></p>
<p>Stefan Kuhn, Fidelity International’s head of ETF and Index distribution for Europe, commented that FCA’s move to allow access to crypto-backed ETNs “is a positive development.”</p>
<p>According to Kuhn, the decision reflects the growing demand for digital assets exposure. The offering of these to professional investors via secure and regulated exchanges is a key step towards further adoption, the Fidelity International exec added.</p>
<h2 class="wp-block-heading" id="fidelity-s-bitcoin-etp-already-in-europe">Fidelity’s bitcoin ETP already in Europe</h2>
<p>While Fidelity’s bitcoin-backed product goes live on the LSE for professional investors on July 31, 2024, it’s not the first time the ETP is hitting the market in Europe.</p>
<p>As crypto.news <a href="https://crypto.news/fidelity-international-bitcoin-etp-europe/" rel="noopener noreferrer nofollow">highlighted</a>, Fidelity first launched its bitcoin ETP in Europe in February 2022, listing it on the Deutsche Börse Xetra. The firm followed this initial listing with an expansion&nbsp; to the SIX Swiss Exchange.</p>
<p>Fidelity reduced the ongoing charges figure, an annual fee attached to the ETP’s management, from 0.75% to 0.35% in February 2024.</p>
<p>Read more: <a href="https://crypto.news/london-stock-exchange-to-list-physically-backed-bitcoin-ethereum-etps/" rel="noopener noreferrer nofollow"> London Stock Exchange to list physically-backed Bitcoin, Ethereum ETPs </a></p>

Bitcoin ETP lists on London Stock Exchange

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